RLJ Companies

Last updated

The RLJ Companies
TypePrivately held
IndustryVarious
Founded2002
Headquarters Bethesda, Maryland
Key people
 Robert L. Johnson
ProductsInvestment Holdings
AUM $5 billion [1]
Website https://www.rljcompanies.com/

The RLJ Companies is an American asset management firm owned by entrepreneur Robert Louis Johnson. [2] [3] [4] [5] [6] After selling Black Entertainment Television in 2001, Johnson's first company, he created RLJ Companies in Bethesda, Maryland. [7] [8] [9] The company's network includes hotel real estate investment, private equity, financial services, asset management, insurance services, car dealerships, sports and entertainment, and video lottery terminal (VLT) gaming. [4] [10] The company is headquartered in Bethesda and has additional offices in Charlotte, North Carolina; Little Rock, Arkansas; Los Angeles, California; San Juan, Puerto Rico, and Monrovia, Liberia. [11]

History

Robert L. Johnson founded The RLJ Companies in 2002 in Bethesda, Maryland. [7] [8] Johnson serves as chairman of the company. [4] Previous to founding The RLJ Companies, Johnson owned BET, which he sold to Viacom in 2001. [12] He remained on at BET as its CEO through 2006. [4]

In 2001, Johnson and Tom Baltimore started RLJ Lodging Trust with six hotels. [13] RLJ Lodging Trust started as RLJ Development and changed its name when it went public on the New York Stock Exchange under RLJ on May 13, 2011. [14] [15] The company operates in 21 states with 149 hotels under global brands including Courtyard by Marriott, Hilton Garden Inn, Hyatt Place and Embassy Suites Hotels. [16] [17] In 2008, RLJ Companies formed a partnership with Global Building Solutions to build a 78-room luxury resort and spa in Monrovia, Liberia. [7] The RLJ Kendeja Resort & Villas opened in March 2009. Thomas J. Baltimore Jr. served as president and CEO of RLJ Lodging Trust until his resignation on April 27, 2016, so that he could assume a similar role with Hilton's REIT. Ross H. Bierkan was appointed CEO on August 1, 2016. [18]

David Rubenstein and Johnson partnered with Carlyle Group in 2006 to form RLJ Equity Partners, a middle-market equity firm. [13] [19] RLJ Equity Partners invested in CVC  [ pt ], the largest tour operator in Latin America, in January 2010. [20] In September 2010, it partnered with Enhanced Recovery Corp to gain more presence in the Southeast. [21] It has also invested in Fleischmann's Vinegar, LAI International, TMone, Naylor and R. Thompson Trucking Inc. [21] [22] [23] [24]

In 2014, RLJ Equity Partners acquired Naylor Association Solutions, with its headquarters in Gainesville, Florida.

Johnson collaborated with Mack McLarty and Steve Landers to create RLJ-McLarty-Landers Automotive Holdings, LLC in 2007. [25] It is the parent company for Little Rock, Arkansas based RML Automotive. [26] Johnson holds 60% of RLJ-McLarty-Landers Automotive Holdings, LLC, making it the largest minority-owned automotive dealership in the country. [13]

In response to the 2010 Haiti earthquake, Global Building Solutions collaborated with RLJ Companies to form Caribbean Opportunity Holdings in April 2010. [27]

Trading under NASDAQ as RLJAU, RLJ Acquisition was formed as a special-purpose acquisition company in December 2010 with the purpose of consummating business combinations. [28] [29] H. Van Sinclair serves as CEO. [28]

RLJ Entertainment Inc. formed when the RLJ Companies acquired Acorn Media Group, Inc. and Image Entertainment Inc. in 2012. [13] [14] It trades under the NASDAQ ticker RLJE.

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References

  1. ↑ https://rljcompanies.com/about/
  2. ↑ Susie Gharib; Tyler Mathisen; Hampton Pearson; Mary Thompson (January 20, 2014). "News; Domestic". Nightly Business Report.
  3. ↑ Ashley Halsey III (August 6, 2013). "News of sale rocks readers, but many express optimism". The Washington Post.
  4. 1 2 3 4 "Robert L. Johnson Leaders Interview". Leaders Online. Retrieved April 16, 2014.
  5. ↑ Evan Weese (April 16, 2013). "Black Enterprise Entrepreneurs Conference coming May 15–18". Business First of Columbus Online.
  6. ↑ Alex Biles (March 13, 2013). "The Top 20 African-American CEOs in Business Today". Benzinga.com.
  7. 1 2 3 Stephanie Elam. "BET founder to build spa resort in war-torn Liberia". CNN World. Retrieved April 16, 2014.
  8. 1 2 Adam Bryant (November 12, 2011). "No Ranting and Raving Is Permitted". The New York Times. Retrieved April 16, 2014.
  9. ↑ Michael A. Fletcher (December 18, 2012). "BET founder offers plan to cut racial disparity in hiring; BET founder says Obama should ask firms to interview black candidates for top jobs to cut unemployment gap". WashingtonPost.com.
  10. ↑ Sergie Willoughby. "BET Founder Robert L. Johnson Inducted into Giants of Broadcasting Honors". The Network Journal. Retrieved April 16, 2014.
  11. ↑ "Association Management Company Naylor Acquired by RLJ Equity Partners". TSNN Trade Show News. Retrieved April 16, 2014.
  12. ↑ Louise Story (August 2, 2007). "CNBC Admirers Talk About Their Climb Up The Ladder". The New York Times. Retrieved April 16, 2014.
  13. 1 2 3 4 Dinah Eng. "Bob Johnson moves way beyond BET". CNNMoney. Retrieved April 16, 2014.
  14. 1 2 Dave McNary (October 3, 2012). "RLJ completes distribution acquisition; Company's purchase of Image Ent., Acorn Media creates new digital distrib". Daily Variety.
  15. ↑ Arlena Sawyers (May 7, 2012). "Johnson: Power in partnerships". Vol. 86, no. 6515. Automotive News.
  16. ↑ John Kell (February 2, 2011). "RLJ Lodging Trust Plans IPO" . Retrieved April 16, 2014.
  17. ↑ Abha Bhattarai. "RLJ Lodging Trust plans to expand following latest public offering". The Washington Post. Retrieved April 16, 2014.
  18. ↑ "RLJ Lodging Trust gears up for transactions". Hotel News. Retrieved April 16, 2014.
  19. ↑ Mary Kathleen Flynn (March 1, 2012). "The RLJ Rule; BET founder Robert L. Johnson urges companies to seek minority candidates for executive openings". Vol. 47, no. 3. Mergers & Acquisitions.
  20. ↑ Dana Hedgpeth (January 8, 2010). "Carlyle acquires Brazilian tour operator; $250 million CVC deal advances D.C. firm's overseas growth plans". The Washington Post.
  21. 1 2 Jonathan Marino (September 20, 2010). "RLJ Teams With Enhanced Recovery". Vol. 23, no. 38. Mergers & Acquisitions Report.
  22. ↑ "Investing in his passion". Press Citizen. Retrieved April 16, 2014.
  23. ↑ "Emerald Deal Tops 2013 M&A Activity". ExpoWeb. Retrieved April 16, 2014.
  24. ↑ "RLJ Equity Partners Acquires R. Thompson Trucking Inc". Transport Topics. Retrieved April 16, 2014.
  25. ↑ "Difficult times yield big rewards for dealer group". Automotive News. May 4, 2012. Retrieved April 16, 2014.
  26. ↑ "Why Toyota of Lewisville got a new owner". Dallas Business Journal. Retrieved April 16, 2014.
  27. ↑ "RLJ Companies to Bring Jobs, Build Homes in Haiti". Black Enterprise. April 13, 2010. Retrieved April 16, 2014.
  28. 1 2 "RLJ Acquisition, Inc". NASDAQ. Retrieved April 16, 2014.
  29. ↑ "Johnson wheels and deals to fulfill ambitions for RLJ". The Washington Post. Retrieved April 16, 2014.
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